2813 Tern Dr UNIT 208Ocean CityMD21842
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Ocean City at 2813 Tern Dr UNIT 208, Ocean City, MD, 21842 earns from $2,070/mo rent with a $1,738/mo payment. Total monthly income totals $2,070/mo. ROI tracks 18.5% on current figures, and rental yield reads 7% at a $355,000 purchase. Equity gained on principal adds $2,291/yr, and 5% annual appreciation supports $98,080 over five years. Five-year ROI reaches 95.31% and total cumulative return in cash sums $112,164. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,070/mo property income instead of your personal income.
Condo
Built in 1983
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 21842, Ocean City, MD area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 32,930 (100%) |
| Owner Occupied HU | 4,053 (12.3%) |
| Renter Occupied HU | 1,593 ( 4.8%) |
| Vacant Housing Units | 27,284 (82.9%) |
| Median Home Value | $504,097 |
| Average Home Value | $573,881 |
Housing Distribution
Address Breakdown
Residential
7,594
Single Family
6,265
Multi-Family
1,329
Businesses
1,500
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Listed by: Margaret Connors • Berkshire Hathaway HomeServices PenFed Realty
Mls Name: Bright MLS
Mls ID: #MDWO2034782